Additional 1000 S19 Pro Antminers Purchased By Riot Blockchain

Jyoti  |  Jun 5, 2020

Nasdaq-listed Bitcoin mining company Riot Blockchain has spent $2.3 million on another 1,000 S19 Pro Antminers which it obtained from Bitmain Technologies, announced on June 03.

The mining company has further in its announcement stated that it would pay for 1,000 S19 Antiminers, from the working capital fund of the company.

The first Batch Was Bought In May

In May 2020, Riot bought 1,000 similar Antminers for $2.4 million and also given its order for another 1,040 S19 Antminers to Bitmain Technologies.

It is to be noted that the S19 Pro machines could generate 110 terahashes per second and on the other hand, the S19 Antminers generates 95 tershashes per second.

The company has mentioned that after the deployment of new 7,040 Bitcoin mining devices, the operating hash rate of aggregate reached approx 567 petahash per second, and the power consumed by it is 14.2 megawatts.

S19 Pro And S19 Will Work Together

According to this, now the average mining hashpower of the company would increase to 467 percent and the power consumption will increase 50 percent.

Riot Blockchain believes that by the second half of the year it would get new 3040 Antminers miners-both S19 Pro and S19. These Antminers would work together to produce the computing power of the company which would be equal to the 56 percent of the total computing power.

In May 2020, the Bitcoin network underwent its third halving which resulted in reduced mining rewards from 12.5 BTC per blocks to 6.25 BTC.

Now the miners are focused on the latest mining devices as it would help them to enhance the computing capacity.

Recently, most of the major Bitcoin mining companies have reported impressive numbers from las few months operations.

Some of the experts believe that soon the small-scale Bitcoin miners business would end in the market because of the increasing commercial mining facilities and halving which happened in May.

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